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Lambda Corporation acquired 15% of the outstanding shares of Gamma Inc. for $150,000. Gamma Inc. reported net income of $300,000. Calculate the equity income from

Lambda Corporation acquired 15% of the outstanding shares of Gamma Inc. for $150,000. Gamma Inc. reported net income of $300,000. Calculate the equity income from the investment, the carrying value of the investment on the balance sheet, the total dividend income received if Gamma Inc. declared dividends of $2 per share, and the market value of the investment if the shares are currently trading at $25 per share.

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